Chinese wholesale pork prices have continued to weaken in recent months, falling to 31.55 RMB (around £3.50/kg) on 19 April, according to AHDB’s Duncan Wyatt.
“The market for pig meat appears to be well supplied at the moment, although market reports indicate Chinese importers are keen to secure volume at the moment. So, whether wholesale prices soften further is uncertain,” aid Mr Wyatt.
The price fall comes as progress in rebuilding the Chinese pig herd were dampened according to official statistics for April, with Pig numbers now back down to where they were in August of last year.
“It may take some time for these lower pig numbers to feed through to wholesale market balances. Indeed the current de-stocking may in fact be supporting pork supplies in the short term,” Mr Wyatt added.
